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(Updated on 08-06-2012 Time 09.00 AM)
Yesterday we had mentioned trading above 4998-5011
would elevate NF to higher levels.
Yesterday it went up to 5037.
Now for Today…
Above 5038-5045 bulls will dominate.
If trades below 5020 with volume it may slide upto
5006-4993.
Trades above 5045 would drive it to 5067-5084.
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IF YOUR TRADE IS NOT GOING ANYWHERE IN A GIVEN TIMEFRAME, IT’S TIME TO EXIT.
This rule relates to the theory of capital flow. It is trading capital that pushes a market one way or another. An oversupply or imbalance of buy orders will push the market up. An oversupply of sell orders will push the market lower. When price stagnation is present (as typically happens many times throughout the trading session), the market and its participants are telling us that, at the present time, they are happy or satisfied with the prevailing bid and offer. You don’t want to be in the market at these times. The market is not going anywhere. It is a waste of time, capital and emotional energy. It’s much better to wait for the market to heat up a little and then place your trade.
(Updated on 07-06-2012 Time 09.00 AM)
Yesterday we indicated above 4902 would favor bulls.
Crossover 4935-4958 area set the market on fire.
Now for Today…
Bulls are delighted above 4998-5011.
Crossover with volume market will see 5072-5088.
4952-4968 are intraday support.
Consecutive two closing above 5020 will take it to 5129-5155.
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LOVE TO LOSE MONEY.
This rule is the one that I get the most questions and feedback on by traders from all over the world. Traders ask, What do you mean, love to lose money. Are you crazy? No, I’m not crazy. What I mean is to accept the fact that you are going to have losing trades throughout the trading session. Get out of your losers quickly. Love to get out of your losers quickly. It will save you a lot of trading capital and will make you a much better trader.
(Updated on 06-06-2012 Time 08.50 AM)
Yesterday we had written above 4858 would move up to 4885-4902
It went up to 4876 and retraced.
Now Today
Above 4855 will move up to 4885-4902 as written yesterday.
If sustains higher levels at 4902 with volumes may see 4935-4958.
4824-4802 area intraday support zone.
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DON’T SPECULATE. IF YOU DO, YOU WILL LOSE.
In all the years that. I have been a trader and associated with. Traders, I have never met a successful speculator. It is impossible to speculate and consistently print large winners. Don’t be a speculator. Be a trader. Short-term scalping of the markets is the answer. The probability of a winning day or week is greatly increased if you trade short term: small winners and even smaller losses.
Nifty Futures Calls
(Updated on 05-06-2012 Time 09.10 AM)
As expected yesterday below 4782 we saw lower levels at 4760.
NF bounced off from the low of 4760.
Now for Today…
Above 4858 favors bulls and may drive up to 4885-4902.
Intraday support at 4817.
Below which 4800-4783 may see.
Intraday hurdle on upside is 4848-4858.
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DON’T WORRY ABOUT NEWS. IT’S HISTORY.
I have never understood why so many electronic traders listen to or watch CNBC, MSNBC, Bloomberg News or FNN all day long. The talking heads on these programs know very little about market dynamics and market price action. Very few, if any, have ever even traded a one lot in any pit on any exchange. Yet, they claim to be experts on everything. Before becoming a trading and markets expert, the guy on CNBC reporting hourly from the Bond Pit, was a phone clerk on the trading floor. Obviously, this qualifies him to be an expert! He, and others, can provide no utility to you. Treat it for what it really is entertainment. The fact is: The reporting that you hear on the business programs is old news. The story has already been dissected and consumed by the professional market participants before news has been disseminated do not trade off of the reporting. It’s too late.
(Updated on 04-06-2012 Time 8.50 AM)
As expected in last session NF remained below 4920 and it after taking
out 4885 it plunged down to 4815.
We had written lower levels are 4844-4826.
Given the foreign markets worst still don’t seem to be over.
Now For Today…
Trading below 4782 will drive it even lower to 4754-4732.
If sustained below it may open the door for even
dipper levels to 4715-4680.
4840-4848 are upward barrier.
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DON’T HOPE AND PRAY. IF YOU DO, YOU WILL LOSE.
When I was a new and undisciplined. Trader, I can’t tell you how many times that I prayed to the Bond god. My prayers were a plea to help me out of a less-than-pleasant trade position. I would pray for some sort of divine intervention that, by the way, never materialized. I soon realized that praying to the Bond god or any other futures god was a wasted exercise. Just get out!
(Updated on 01-06-2012 Time 8.50 AM)
As written yesterday below 4920 market remained under pressure.
sustained trading Below 4885 will drag NF down up to 4844-4826
4932-4949 are strong hurdle in intraday.
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